MKT 700 Lecture Notes - Lecture 8: Machine Learning, Enterprise Architecture, Psychographic
Document Summary
How much to spend to save customers: key is not to spend more than the incremental total customer lifetime value you create, the general formula to calculate this is: Ai in marketing: artificial intelligence (ai), is the ability of a digital computer or computer-controlled to perform robot tasks commonly associated with intelligent beings. W (ai) systems: machine learning (ml) is an application of artificial intelligence that provides the ability to automatically. Learn and improve from experience without being explicitly programmed: ai works until it. Doesn"t : all the analyses we have don do far can be applied to ai/ml. Lecture 8 notes: purchase amount (clv, purchase basket (clv, retention rate (clv, customer segment, customer personality& psychographics. What is ai: some background, how ai works clustering algorithm, https://youtu. be/xs2g0oolhpo, types of ai in marketing - overview, https://youtu. be/ra_ytqnhf_8, ai in retail marketing - personalization, https://youtu. be/p__ivhmj2ju?t=762. Cios think ai will be a game changer .
